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The game of chicken, also known as the hawk-dove game or snowdrift game, [1] is a model of conflict for two players in game theory.The principle of the game is that while the ideal outcome is for one player to yield (to avoid the worst outcome if neither yields), individuals try to avoid it out of pride, not wanting to look like "chickens."
Sequential game: A game is sequential if one player performs their actions after another player; otherwise, the game is a simultaneous move game. Perfect information: A game has perfect information if it is a sequential game and every player knows the strategies chosen by the players who preceded them. Constant sum: A game is a constant sum ...
Possible explanations. As an explanation of why unusual meats would taste more like chicken than common alternatives such as beef or pork, different possibilities have been offered. One idea is that chicken is seen as having a bland taste compared to other meats because fat contributes more flavor than muscle (especially in the case of a lean ...
Strategy. Game theory is the study of mathematical models of strategic interactions. [1] It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. [2] Initially, game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly ...
Correlated equilibrium. In game theory, a correlated equilibrium is a solution concept that is more general than the well known Nash equilibrium. It was first discussed by mathematician Robert Aumann in 1974. [1][2] The idea is that each player chooses their action according to their private observation of the value of the same public signal.
Prisoner's dilemma. The prisoner's dilemma is a game theory thought experiment that involves two rational agents, each of whom can cooperate for mutual benefit or betray their partner ("defect") for individual reward. This dilemma was originally framed by Merrill Flood and Melvin Dresher in 1950 while they worked at the RAND Corporation. [1]
Proposed by. John Forbes Nash Jr. Used for. All non-cooperative games. In game theory, the Nash equilibrium is the most commonly-used solution concept for non-cooperative games. A Nash equilibrium is a situation where no player could gain by changing their own strategy (holding all other players' strategies fixed). [1]
In game theory, folk theorems are a class of theorems describing an abundance of Nash equilibrium payoff profiles in repeated games ( Friedman 1971 ). [ 1] The original Folk Theorem concerned the payoffs of all the Nash equilibria of an infinitely repeated game. This result was called the Folk Theorem because it was widely known among game ...